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Hyundai Sonata Lease Questions

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  • You're welcome dmuniz. Hyundai Finance's September buy rate lease money factor and residual value for a 36-month lease of a 2013 Sonata Limited non-Turbo with 15,000 miles per year are .00213 and 59% for consumers who qualify for its top credit tier.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • HEY I AM TRYING TO LEASE A 2013 HYUNDAI SE AUTO 4CYLINDER WITH NAVIGATION PACKAGE WITH SUNROOF AND BACK CAMERA BLACK ON BLACK. I NEED HELP FIGURING OUT IF THIS DEAL OFFERED TO ME IS GOOD I LIVE IN NYC BRONX

    CAP COST. 23,380 RESIDUAL OF 60 PERCENT 12K MILES MONTHLY PAYMENT 254.97 AND 0 DOWN JUST TAX FEES AND FIRST MONTH PAYMENT 1531.89. are this numbers good pls i need help
  • ref: 1102
    no caps, pls. need some more info to evaluate deal
    msrp, purchase price, money factor, tax rate, doc fee
    Never, ever put down more than $500 out-the-door on a lease; too risky

    http://www.leaseguide.com/calc.htm
  • Hi Car_man,

    Can you please tell me what the September money factor and residual are for a 2013 Sonata Limited Turbo with 12k/yr. on a 36 mo lease in zip 08003? Thank you for the help!
  • msrp 27,705 purchase price is 22816 mf-.00186 residual 62% monthly payment now is 240 from different dealer and 1500 inlcudes first month payment and fees including dmv and i am in the nyc area. thanks for your help how does this deal sound?
  • pegasus17pegasus17 Posts: 536
    edited September 2012
    REF: 1105
    $1260 in fees is ridiculous, even for NY. max doc fee is $75 and i believe they only tax the monthly payment. So, what are the other "fees" you are paying? I suspect they are having you pay the 595 acquisition upfront which is stupid. max o-t-d should be 500 or less. If you don't understand the reasons behind that statement then you need to do some more research before you lease...

    Also 4900 discount from MSRP is not possible on that car. If by chance your numbers are correct then that deal 1500 down + 35*240 is a good deal. Remember too that Hyundai charges 400 at the end of the lease (disposition fee)
  • thank you i am going to call the dealership and get some more clarification on what fees there are charging i didnt sign any deal yet and is the money factor and residual correct for 2013 hyundai sonata se with navigation. and i am aslo going to find out the sales tax thanks. i should respond to you shortly
  • hey here is the deal i am being offered what do u think of this deal msrp 27,705 purchase price is 23098 mf-.00186 residual 64% monthly payment is 240. 1500 down which includes first month payment(240) 595 bank fee,75 doc fee, dmv fees 297 and the tax rate is 8.875 i am in the nyc area. thanks for your help how does this deal sound? and is this the right residual and mf for this car this is for 36 months lease and 12k miles and i am in bronx ny area zipcode 10469
  • REF: 1108
    Numbers are NOT correct. Using http://www.leaseguide.com/calc.htm I come up with 245 per month (225 + 20 tax = 245) . Out the door cost should be the sum of the fees you quote (240 + 595 + 75 + 297 (very High) = 1207 [not 1500])
    Note: The money factor of 0.00186 equates to 4.46% finance charge which is not good but may be what they offer right now.
  • i think .00186 is what they offer on that car now thats the number i got from a few dealers isnt this suppose to be a standard number. i ask the same question about the out door cost being 1207 and the answer was the rest was going to be used to cover some of the tatexs this is the best numbers have gotten so far. what do you think should be the next step from here. is there anyway u can find out about the mf. and is 64% the residual in my zip code are 10469. maybe i am not getting the exact number because i wasnt ready to sing the deal there and then. but so far this are the best numbers i got so is this a bad lease or what do u think.
    ps. are u saying that the 297 for the dmv fees are too high for new plates and registration? this is my first lease so sorry if i am asking too many questions. thanks in advance
  • This deal looks very good to me. They gave you a good Residual....you could demand for a better Money Factor depending on where your credit is at. If it's in the upper top tier then go for it. However, looking at your purchase price it looks like this dealership is shooting pretty straight. Or, you drive a hard bargain. ;)

    Best way to get your payment down is to get a very favorable residual and the best possible purchase price; the two biggest factors in a lease rate assuming your credit is good.

    I live in Florida so I can't comment on the DMV fees. Here it's like $400.00 for a new plate!
  • so is it safe to go ahead with the lease?
  • sirjaredsirjared Posts: 13
    edited September 2012
    I'm really trying to get a great deal on a Sonata lease asap. I realize it might be a bit of an oxymoron to get a great deal fast as they often take time to properly negotiate. In any event, I was wondering if anyone had a lead on great promotion/incentive offer other than the standard ones being advertised. Also, where can I find the standard % used to calculate residual value on the Sonata in a lease deal? I'm not in a position that I can afford to finance buying the car new right now, so I'm trying to get a great lease deal based on a lower selling price with the intent on buying it out at the end. But one of the offers I got with a low payment, they just upped the residual, so this didn't work out so great for me in the long run.

    Any help/direction much appreciated!

    PS. I meant to mention that I'm on Long Island, NY
  • sewerrat1980sewerrat1980 Posts: 4
    edited September 2012
    Here is the deal I got yesterday if you want to use it as a benchmark:
    2013 Sonata GLS with Popular Package:

    MSRP $22,835 ($20,895 + $825 package + $340 for floormats, cargo net, etc +775 freight/delivery)

    Negotiated price of $19,300

    Total lease amount of $20,581 ($19,300 + $199 service fee + $595 bank fee + 248.60 first months payment + $238.40 DMV fees)

    Buyout of $13,929

    35 more payments of $248.60
    Money factor of 3.6%
    5.1% sales tax
    Sign and drive. I'm a happy guy, I think I got a good deal.
    The popular package is a freakin bargain for $825 (Fog logs, auto headlights, heated seats, alloy wheels, power drivers seat)
  • Did you go through with the lease? If so, were there any final negotiations, or were all the numbers as you last said?

    I'm in NY, so I'm curious what dealer did you get your deal from?
  • Car man,

    Do the numbers change if it's for a 12,000 or 10,000 mile per year lease?
  • Yep, I got the car.
    I'm in Milwaukee.
    The lease numbers do change in a 3/36 vs 3/30 due to the fact that the 3/36 will have more depreciation.
    Mine was a 3/36
  • My lease deal msrp was 27,303 adjusted cost of 24,276.27 mf-.00125 residual was 60% mothly payment 270 900 down which included the dmv fees 300 first month payment 270 and the doc fee 75 and the tax rate was 8.875 12k 36months lease how does this deal sound?
  • My wife is seriously considering a lease of a 2012 hybrid base with Leather package

    MSRP - $28370
    Residual - $13900
    SIgn and Drive

    $256 a month 4yr/48k - they wanted $30-40 more per month for a 36 month lease.

    This seems like a good deal but I am not sure
  • Will it affect just the monthly or the residual as well? It may be kind of dumb, but I don't know what's fair/expected or what is just a lie they'll tell you. I'm asking because I'm planning to buy the car out after (cant afford the payment if I finance it now) so I'm trying to see if I'd be better off paying for less miles in the lease (since I don't care if I technically go over or not) if the residual would be the same. Is one way better than the other?
  • I think you need to do some reading how leases work.
    There are only 4 components of a lease:
    -car price
    -interest rate (money factor)
    -residual
    -the above 3 components dictate the 4th, your monthly payment

    Dealers are, for the most part, non-negotiable on components 2 and 3. The financing group tells them the current interest rate (based on your credit) and the manufacturer tells them the residual. (expressed as a percentage based on the # of miles the lease is).

    So what can you do? Understand 2 and 3 and negotiate the hell out of #1. Thats it.

    If you lease for 3 years/30k miles (instead of the typical 3/36), the car will be worth more at the end of the lease. So, your lease payments will go down, but the cost to buy the car at the end of the lease goes up.

    If you lease for 3 years/90k miles (extreme, I know), the car will be worth less at the end of the lease. So, your lease payments will go up, but the cost to buy the car at the end of the lease will go down.

    If cash flow right now is your issue and you truly will be buying out the lease, you should negotiate the lowest price for the car (always do this) and ask for the lowest amount of mileage lease they will offer.
  • Hi jasond02. Hyundai Finance's September buy rate lease money factor and residual value for a 36-month lease of a 2013 Sonata Limited Turbo with 12,000 miles per year are .00163 and 62%, respectively for consumers who qualify for its top credit tier.

    When negotiating your deal on this car, make sure to take advantage of the $1,500 cash incentive that is currently available on leases of it.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • Hi thetriplei. The residual value for a lease with 12,000 miles per year would be 1% higher than the residual value for a lease wit 15,000 miles per year. I'm not sure if Hyundai Finance offers leases with only 10,000 miles per year. If It does the residual values for that allowance would likely be 2% higher than the 15k resids.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hi Car_man,

    Thanks for all your great posts! Can you please post the September MF & Residual for a 2013 Sonata Limited for a 48 month lease with 12k / year?
  • I am trying to figure out if a deal that I was quoted is a good deal or not.
    2012 Hyundai Sonata Hybrid w/all options.
    MSRP: $32,370
    Out the door price with all rebates, lease cash etc.:$27,620
    Lease payment, 36 months, all taxes, doc fees, everything included, $ 349.00 a month including the monthly use taxes, 12,000 mi a year.
    I am not sure of the money factor but they said it was the Hyundai standard for top tier credit.
    Residual is $18,127.
    This is for a deal in Nasville, TN. I know sales tax is 7.25 percent but I think the leases are only taxed on the monthly payment. Any help would be appreciated. Thank you. Thinking about buying this vehicle this weekend.
  • You're very welcome carpanda1. Hyundai Finance's current buy rate lease money factor and residual value for a 48-month lease of a 2013 Sonata Limited with 12,000 miles per year are .00149 and 51%, respectively for consumers who qualify for its top credit tier.

    When negotiating your deal on this car, make sure to take advantage of the $1,500 cash incentive that is currently available on leases of it.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Sladex, if you don't mind can you tell me which dealer this was. I am in your area, and would like to get the same deal. Thanks.
  • Car_man, can you please tell me the November rates for Hyundai. Thank you very much!

    Looking to lease a 2013 Sonata SE, 3/36 month 12k lease. Might go for the 2.0T version if the price is right.
  • Car_man, could you also provide the rates for the GLS for 3/36 for 10k and 12k? Also, if there is any difference between the GLS and GLS PZEV models in terms of the rates. Thought I would piggyback on this one so you could just respond in one shot.
  • Car_man,

    Can you please provide the November residuals and money factors for the 2013 Hyundai Sonata Limited and Sonata Limited 2.0T each with Premium Package? 3-year lease with 12,000 miles.

    Many thanks,

    golfmaven
This discussion has been closed.